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McKinsey & Company Has anyone done direct to EM from BA in McK US or Canada? What does the compensation look like if you choose to not go for MBA and dive into EMing directly? Heard some horror stories that EM who went directly from BA stays with the BA level base salary until AP level, this doesn’t sound right. Anyone could provide some color to this topic? Thanks! McKinsey & Company
Chief
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800+ points down today! Oof!
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It was a bad year but keep in mind you aren’t trying to make gains this year you trying to make them for 30-40 years from now. This just means you can more buy stocks cheaply now.
The markets go up and the markets go down.
You’re ahead of everyone not even in the market.
Also, if your employee matches, you would have left all of that free money on the table by not taking the match.
You haven’t lost any money either. You only lose when you sell at a loss.
Employer**
Chief
Yeah but you theoretically were buying low basis shares in your 401k every paycheck so the upside will be much better. Don’t worry - in 30 years last year will be just a minor bump in the road and won’t make much difference.
It’s hard to see $0, but you were investing in buying power for the future. Plus, hopefully you had some match from your employee (aka free money) and you invested pre-tax so you won’t owe the gov’t as much.
Regarding where and how you invested. What did you invest in? You want to make sure you have a diverse portfolio. I have some investments that ended the year with gains and others with losses. Also, periodically throughout the year, re-evaluate if you need to move money around. Look at the historic data, current economic situation, and honestly have a little faith in your gut.
Now is a great time to double down on stocks in companies for example that are struggling right now, but you feel will bounce back in the next couple of years vs go under.
When COVID first hit I bought stock in airlines, cruise companies, Disney, Home Depot.
Another potential perspective. I’m not sure whether people in this bowl would ever not know, but better careful than sorry…
Did you gain anything or did you have a negative return?
If you have 0% return, that doesn’t sound right, you should have a negative return.
Some people don’t know they need to “invest” their contributions, NOT merely putting money in a IRA or 401k (unless the company automatically enroll you into a mutual fund or index fund).
I was one of those people, and thankfully learned right after I started contributing to my IRA.
Check out the bogleheads.com wiki starting at the getting started wiki. A wealth of information for a beginner that leads you to a very structured, efficient , low cost and easy method of investing.
What you bought was an ownership stake in companies. What people in the public market will pay for that ownership stake will go up and down based on factors outside your control like the risk-free rate of return in treasury bonds, shutdowns from a global pandemic, wars, etc. In the long run, you’ll be better off owning companies that generate cash and innovate to grow the earnings they eventually return to you as a shareholder. Change in market price compared to a year ago doesn’t matter that much.
I know nothing so I just buy stocks in google, apple and Amazon on top of maxing out 401k. It makes me feel better.
If you're at a firm, there may be conflicts issues with buying or selling individual stocks without firm clearance. FYI.
Do you need your retirement funds now? If not, why do you care?
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r/personalfinance on Reddit. Don’t bother with the posts first. Go to the wiki and check out the resources there are some good stuff there. Also some good recommended books to read. You need to change your mindset of how you look at money and the market